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London: Struggling British carmaker Aston Martin Lagonda on Wednesday, April 29, 2026, said its losses narrowed in the first-quarter and that it will receive fresh funding from its biggest shareholder.
The luxury carmaker, which has faced several years of financial pressure, maintained its full-year guidance while warning of macroeconomic and geopolitical uncertainty.
Net loss narrowed to £63 million ($85 million) in the first three months of the year, compared with £80 million in the same period in 2025.
Revenue rose 16 percent to £270 million, helped by sales of its high-end vehicles, including plug-in hybrid Valhalla.
The company has also lined up £50 million in new financing from some members of its largest shareholder, the Yew Tree Consortium, led by Canadian businessman Lawrence Stroll.
"We are on track to deliver material financial improvement this year," chief executive Adrian Hallmark said in a results statement.
He cautioned, however, of the "uncertain global macroeconomic and geopolitical context, including the current conflict in the Middle East."
The group, which has also been hit by US tariffs and weak Chinese demand, recently announced plans to cut 20 percent of its workforce to help trim costs.
"The bigger picture for the auto industry remains challenging," said Aarin Chiekrie, equity analyst at Hargreaves Lansdown.
He added that while the first-quarter results showed the company is "not completely out of the race to return to profitability," there are still "plenty of obstacles" ahead.
